Groupon IPO Set to Make $700 Million

    he Groupon logo inside the online coupon company's offices Thursday, Sept. 22, 2011, in Chicago.  Online coupon seller Groupon Inc. is discounting its expectations for its first stock offering, reported Friday, Oct. 21, 2011. The company, which offers consumers daily discounts targeted to their city and preferences, now expects net proceeds of about $478.8 million from its initial public offering of 30 million shares. (AP Photo/Charles Rex Arbogast)

    Charles Rex Arbogast / AP Photos

    Groupon is about to land itself the ultimate deal. After upping its IPO to $20 per share from an initial $16 to $18, the daily deals site is set to make $700 million when it goes public this week. Groupon CEO Andrew Mason and team pulled off the huge deal by narrowing its stock supply and cutting the company’s valuation in half. In preparation for one of the year’s most highly anticipated IPOs, current shareholders are not selling stock and the company itself is only selling under 10 percent.

    Read it at Reuters